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REGISTERED NUMBER: 04521406 (England and Wales)











Francis Fine Wines Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2023






Francis Fine Wines Ltd (Registered number: 04521406)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Francis Fine Wines Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: M Francis





REGISTERED OFFICE: 6 Charter Point Way
Ashby Park
Ashby de la Zouch
LE65 1NF





REGISTERED NUMBER: 04521406 (England and Wales)





ACCOUNTANTS: Haines Watts
6 Charter Point Way
Ashby Business Park
Ashby De La Zouch
Leicestershire
LE65 1NF

Francis Fine Wines Ltd (Registered number: 04521406)

Statement of Financial Position
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 93,364 14,444

CURRENT ASSETS
Stocks 6 190,460 153,254
Debtors 7 140,695 132,898
Cash at bank 20,962 34,436
352,117 320,588
CREDITORS
Amounts falling due within one year 8 185,190 175,599
NET CURRENT ASSETS 166,927 144,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,291

159,433

CREDITORS
Amounts falling due after more than one year 9 (93,321 ) (44,962 )

PROVISIONS FOR LIABILITIES (1,276 ) (1,276 )
NET ASSETS 165,694 113,195

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 11 165,593 113,094
SHAREHOLDERS' FUNDS 165,694 113,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Francis Fine Wines Ltd (Registered number: 04521406)

Statement of Financial Position - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





M Francis - Director


Francis Fine Wines Ltd (Registered number: 04521406)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Francis Fine Wines Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgment, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Francis Fine Wines Ltd (Registered number: 04521406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2022 12,200 16,183 15,247 20,915 64,545
Additions - - 1,595 84,613 86,208
Disposals - - - (15,415 ) (15,415 )
At 30 April 2023 12,200 16,183 16,842 90,113 135,338
DEPRECIATION
At 1 May 2022 - 16,183 14,378 19,540 50,101
Charge for year - - 1,234 6,054 7,288
Eliminated on disposal - - - (15,415 ) (15,415 )
At 30 April 2023 - 16,183 15,612 10,179 41,974
NET BOOK VALUE
At 30 April 2023 12,200 - 1,230 79,934 93,364
At 30 April 2022 12,200 - 869 1,375 14,444

6. STOCKS
2023 2022
£    £   
Stocks - (20,000 )
Finished goods 190,460 173,254
190,460 153,254

Francis Fine Wines Ltd (Registered number: 04521406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,290 130,416
Other debtors - 809
VAT 5,405 1,673
140,695 132,898

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 21,333 -
Trade creditors 128,552 121,828
Tax 10,916 47,219
Social security and other taxes 812 2,090
Other creditors 2,725 2,085
Directors' current accounts 18,252 67
Accrued expenses 2,600 2,310
185,190 175,599

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 39,352 44,962
Hire purchase contracts 53,969 -
93,321 44,962

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
101 Ordinary shares 1.00 101 101

11. RESERVES
Retained
earnings
£   

At 1 May 2022 113,094
Profit for the year 105,963
Dividends (53,464 )
At 30 April 2023 165,593

Francis Fine Wines Ltd (Registered number: 04521406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
M Francis
Balance outstanding at start of year (67 ) 23,825
Amounts advanced 967 4,793
Amounts repaid (19,152 ) (28,685 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,252 ) (67 )